The future is looking bright for real estate investors in the City of Tea Tree Gully.
The Winter 2018 Price Predictor Index Report has placed the Council area firmly on the radar of property investors, following strong sales volumes.
According to Hotspotting, sales volumes are a reliable indicator of market growth and future price increases.
Six suburbs within the Council area are leading the way.
Greenwith is at the top of the list, appearing in the Report’s national top 50 list of growth stars. This follows successive quarterly sales volume increases over the past 18 months. In that time, sales volumes have increased from 38 to 56 per quarter.
The Modbury market is also strong with both Modbury and Modbury Heights having steadily rising sales volumes. Both suburbs have a current median house price of $380,000.
Golden Grove, Wynn Vale, and Holden Hill are also experiencing rising house sales. The median house price for these areas being between $440,000 and $470,000.
If you’re an investor or developer looking to better understand the benefits of investing in the City of Tea Tree Gully, contact our planning team on 8397 7444.
We also has a free Urban Design Advisory Service to assist investors achieve their planning and development outcomes in our area.
Hotspotting’s Price Predictor Index is an Australian research tool which tracks sales volumes over time for local suburbs. Their data shows a correlation between sales volumes and a movement in price. The subsequent price change is likely to occur within six months of an increasing or decreasing sales trend.
Source: Hotspotting The Price Predictor Index Winter 2018 edition.